Slovakia’s competitiveness improved slightly

THE SLOVAK economy’s position in the International Management Development (IMD) World Competitiveness Yearbook improved slightly.

THE SLOVAK economy’s position in the International Management Development (IMD) World Competitiveness Yearbook improved slightly.

The IMD is an annual report on the competitiveness of nations, which has been published since 1989. The yearbook benchmarks the performance of 60 countries based on 338 criteria measuring different facets of competitiveness, of which two thirds are “hard statistical” data from international and national sources and one third is culled from survey data from 4,400 top managers (Executive Opinion Survey).

Compared to the previous year, Slovakia improved its position by two spots, ending 45th, the SITA newswire reported, quoting the yearbook, which was done in cooperation with the Slovak branch of the F.A. Hayek foundation. Slovakia placed the highest before the crisis, when it ended around 30th, while in 2009, it dropped to 49th – its worst-ever score to date.

Head of the F.A. Hayek Foundation Matúš Pošvanc told SITA, however, that Slovakia’s improvement in the ranking does not necessarily mean that the business environment has actually improved. This can be caused by other countries performing worse, like Italy, for example, which placed lower this year at 46th, just behind Slovakia.

Slovakia’s competitiveness has not changed, however, within the Visegrad Four region, in which the Czech Republic (33) came out on top, followed by Poland (36), Slovakia and Hungary (48).

F.A. Hayek Foundation’s analyst Martin Reguli opined for SITA that behind the country’s improvement is an increase in economic output due to foreign demand, an increase in technology exports, lower inflation and improvements in corruption and justice. “However, the problem of Slovakia remains the effectiveness of the government and government measures, the issue of administration and to some extent also the issue of public finances,” he concluded.

Despite the fact that state of the Slovak judiciary was evaluated slightly better than in the preceding year, reducing corruption and increasing transparency while re-establishing trust in judiciary remain the biggest challenges for the growth of the Slovak economy’s competitiveness, according to the survey. Other goals include improving the effectiveness of public administration and education, supporting innovation and research, and increasing the flexibility of the labour market.

(Source: IMD survey, SITA)
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Slovakia is an ideal place for birdwatching.

Bear watching and birdwatching in Slovakia

IT IS five o’clock in the morning and a group of people who want to see Slovakia’s biggest predator in its natural environment have just headed out into the nature of Tichá dolina valley in the High Tatras. 

Police on the site

Police in New Zealand shot down Slovak wanted for armed robberies

NEW Zealand police officers in Auckland shot down, on the night of Sunday, August 2, a Slovak citizen, aged 21, who had been wanted for three armed robberies in the area.

Marián Hossa

Hockey Player of the Year is Marián Hossa, followed by Tatar

THE POPULAR poll for the best Slovak ice-hockey player has a winner for 2015: Marián Hossa, who won the Stanley Cup with the Chicago Blackhawks, markedly beat his competitors.

Finance Minister Peter Kažimír

Standard & Poor’s improves Slovakia long-term ratings to A+ with stable outlook

STANDARD & Poor’s Ratings Services raised its long-term foreign and local currency credit ratings of Slovakia to A+ from A on July 31, 2015. It also confirmed A-1 short-term credit ratings; with a stable outlook.

MOST READ ARTICLES


  1. Slovakia seeking to lure yet another carmaker
  2. Bear watching and birdwatching in Slovakia
  3. Police in New Zealand shot down Slovak wanted for armed robberies
  4. Spa towns offer a healing experience
  5. Cooperation with Germany still untapped
  6. Referendum: Gabčíkovo inhabitants do not want refugees there
  7. Hockey Player of the Year is Marián Hossa, followed by Tatar
  8. Standard & Poor’s improves Slovakia long-term ratings to A+ with stable outlook
  9. Slovakia’s ‘invisible minority’ counters migration fears
  10. US convoy will pass through Slovakia to NATO drill in Hungary
  1. Spa towns offer a healing experience
  2. Slovakia seeking to lure yet another carmaker
  3. Bear watching and birdwatching in Slovakia
  4. Slovakia’s ‘invisible minority’ counters migration fears
  5. US convoy will pass through Slovakia to NATO drill in Hungary
  6. Bojnice Castle exhibits human body anomalies
  7. Slovak auction house sold original bust by Bernini
  8. Germany as you may not know it
  9. Police in New Zealand shot down Slovak wanted for armed robberies
  10. The biggest Roma festival in Slovakia spills into Bratislava streets
  1. Spa towns offer a healing experience
  2. Slovakia’s ‘invisible minority’ counters migration fears
  3. Slovakia and migrants
  4. Helicopter crash claims one life
  5. The biggest Roma festival in Slovakia spills into Bratislava streets
  6. US convoy will pass through Slovakia to NATO drill in Hungary
  7. Land Rover may go to Poland, British media report
  8. Average salary now €929 per month
  9. Slovak auction house sold original bust by Bernini
  10. Germany as you may not know it